In the crypto world, few stories have been as captivating as Ripple’s journey over the past year. The legal battle with the U.S. Securities and Exchange Commission (SEC) cast a long shadow over the project, with some estimating that it has cost the blockchain company a substantial $200 million. However, what’s truly remarkable is how XRP has not only weathered the storm but also emerged stronger.
XRP’s Immediate Future
Lucky (@LLuciano_BTC), a respected name in the crypto community, shared a surprising revelation about the future of XRP. He asserted that the price of XRP could be much nearer to $1 or even $10 than most enthusiasts currently assume.
Read Also: Top Crypto Proponent: XRP Price Above $27 Is Not A Matter of “If” But “When”
The self-proclaimed Bitcoin OG broke down the factors that make him optimistic about XRP. These are Ripple’s operational advancements and exciting projects on the XRP Ledger (XRPL).
Been observing @Ripple's operations since the SEC win in July, I can't help but applaud the team for staying focused in their commitment to the $XRP community.
Few projects recover from such a drawn-out legal battle that cost them $200 million, but we've seen the Ripple team… pic.twitter.com/3uVbFinpj9
— Lucky (@LLuciano_BTC) October 26, 2023
Ripple’s Victories Over the SEC and Partnerships
Ripple’s legal victory against the SEC in July was a turning point for the project. This legal triumph cleared the regulatory clouds hanging over XRP and sent a powerful message to the entire crypto industry.
What is even more commendable is how Ripple wasted no time leveraging this newfound clarity. The team quickly embarked on a series of strategic partnerships and integrations that have the potential to reshape the cryptocurrency landscape.
Among these, Lucky mentioned the increased utilization of Ripple Payments with Bitstamp and Bitso. Ripple also resumed discussions with the Australian Freight and Trade Alliance (FTA) after its victory over the SEC.
The partnership with Uphold is another milestone highlighted by Lucky. Bringing more liquidity to the Ripple ecosystem improves the trading environment for XRP and paves the way for further expansion.
Read Also: XRP Price Forecast: Unusual Bent Fork Pattern Signals Potential 2,842% Rally to $15
Diversification of Utilities
Lucky also mentions Ripple’s actions to broaden the utility of XRP on the XRP Ledger (XRPL). The introduction of non-fungible token (NFT) trading on the XRPL is a significant move. NFTs have taken the digital world by storm, and according to Lucky, Ripple’s entry into this space could open doors to a $1.6 billion market.
He also draws attention to the Xumm Wallet, with more than 600,000 users added in three months. This wallet is steadily becoming a popular choice among XRP holders. Its user-friendly interface and robust features have contributed to this rapid adoption.
A Promising Outlook
Ripple’s strategic partnerships, utility expansion, and the success of the Xumm wallet are all contributing factors to its 22% bounce from its dip in August. In Lucky’s words, “If I’m being honest, I’d say that the $XRP price isn’t as far from $1 or $10 as we think, looking at the current ecosystem developments.”
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